Argent Trust Co Sells 27,780 Shares of Bristol-Myers Squibb (NYSE:BMY)

Argent Trust Co reduced its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 27.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 74,323 shares of the biopharmaceutical company’s stock after selling 27,780 shares during the quarter. Argent Trust Co’s holdings in Bristol-Myers Squibb were worth $3,087,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb during the first quarter valued at about $27,000. LGT Financial Advisors LLC raised its position in Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 227 shares during the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of Bristol-Myers Squibb in the 2nd quarter worth approximately $39,000. Fairman Group LLC purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $42,000. Finally, Beach Investment Counsel Inc. PA bought a new position in shares of Bristol-Myers Squibb during the second quarter valued at approximately $42,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BMY shares. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Monday. StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Barclays increased their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft reduced their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group raised their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.00.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $49.74 on Thursday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $59.46. The business’s fifty day simple moving average is $47.34 and its two-hundred day simple moving average is $46.48. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The company has a market cap of $100.83 billion, a price-to-earnings ratio of -16.05, a P/E/G ratio of 12.59 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The business had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. Bristol-Myers Squibb’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.75 EPS. Research analysts anticipate that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.